MDRNA, Inc. Announces Second Quarter 2008 Financial Results and Additional Corporate Restructuring

Posted on: Monday, 4 August 2008, 18:01 CDT MDRNA, Inc. (Nasdaq: MRNA) today reported financial results for the three- and six-month periods ended June 30, 2008, and a further corporate restructuring. Revenue for the three months ended June 30, 2008, was $0.7 million, compared to $4.9 million for the three months ended June 30, 2007. Revenue for the six months ended June 30, 2008 was $2.0 million, compared to $9.9 million for the six months ended June 30, 2007. Revenue in 2008 was primarily related to revenue from feasibility program partners, Nascobal(R) product sales, amortization of deferred revenue from a $2.0 million payment received in 2005 from QOL Medical LLC ("QOL") and revenue from our government grant. The 2007 periods included revenue from receipt and recognition of a $2.0 million payment from QOL related to the... [read full story]